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Which of the following are true, regarding production costs: Average fixed costs increase with each additional unit of production. At a given output level, if
Which of the following are true, regarding production costs:
Average fixed costs increase with each additional unit of production.
At a given output level, if average total costs are decreasing, it must be the case that producing the next unit of output will have a marginal cost that is greater than the average total cost.
At a given output level, if average total costs are increasing, it must be the case that marginal cost is greater than average fixed costs.
None of the above are true.
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